Stifel Nicolaus Has Lowered Expectations for OneWater Marine (NASDAQ:ONEW) Stock Price

OneWater Marine (NASDAQ:ONEW) had its target price cut by Stifel Nicolaus from $31.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 61.92% from the company’s previous close.

ONEW has been the topic of several other research reports. Truist Financial reduced their price target on shares of OneWater Marine from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. KeyCorp reduced their target price on OneWater Marine from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. DA Davidson lowered their target price on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Finally, Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, OneWater Marine has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

OneWater Marine Trading Up 3.3 %

NASDAQ:ONEW traded up $0.49 during trading hours on Wednesday, hitting $15.44. The company had a trading volume of 35,290 shares, compared to its average volume of 137,798. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.28 and a quick ratio of 0.35. The stock has a 50-day moving average price of $19.87 and a 200 day moving average price of $22.47. The company has a market capitalization of $250.99 million, a PE ratio of -38.60 and a beta of 2.58. OneWater Marine has a 52 week low of $14.29 and a 52 week high of $31.36.

Insider Activity

In other news, CEO Philip Austin Jr. Singleton purchased 11,939 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $19.42 per share, for a total transaction of $231,855.38. Following the purchase, the chief executive officer now directly owns 632,161 shares in the company, valued at approximately $12,276,566.62. This trade represents a 1.92 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Steven Roy acquired 2,500 shares of OneWater Marine stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $19.05 per share, with a total value of $47,625.00. Following the completion of the purchase, the director now owns 20,760 shares in the company, valued at $395,478. This represents a 13.69 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 28,485 shares of company stock worth $543,089. Insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On OneWater Marine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONEW. Barclays PLC raised its stake in shares of OneWater Marine by 267.9% in the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after purchasing an additional 11,416 shares during the last quarter. Geode Capital Management LLC raised its position in OneWater Marine by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock worth $7,028,000 after buying an additional 29,952 shares during the last quarter. State Street Corp lifted its stake in OneWater Marine by 0.5% during the 3rd quarter. State Street Corp now owns 226,038 shares of the company’s stock valued at $5,405,000 after acquiring an additional 1,131 shares during the period. De Lisle Partners LLP boosted its holdings in shares of OneWater Marine by 7.4% during the 3rd quarter. De Lisle Partners LLP now owns 58,043 shares of the company’s stock valued at $1,390,000 after acquiring an additional 4,000 shares during the last quarter. Finally, FMR LLC grew its stake in shares of OneWater Marine by 332.5% in the third quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after acquiring an additional 3,312 shares during the period. 94.32% of the stock is owned by institutional investors.

OneWater Marine Company Profile

OneWater Marine Inc operates as a recreational boat retailer in the United States. The company offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. It provides boat repair and maintenance services. In addition, the company arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina services.